Average real ROI for condos/lofts/apt in Atl

[Patrick Young]

Hey guys - I'm starting to get my feet wet in my search for a condo in downtown Atlanta area. Looking in the low 100s and plan to put 20% down.

I'm trying to understand everything that get's factored into ROI, the following assumes $100k purchase price.

• Downpayment - $20,000
• Interest on loan - $5-6k/year need to get amortization calculator
• Taxes/Insurance - $2000/year
• HOA $3600/year
• Maintenance $1000/year

About $12k/year to hold the property - rent in this area doesn't seem to be much more than $1200 optimistically - so looking at making $2600 on $20,000 or around 12%, then subtract taxes off that. Is my math/logic correct? What am I missing? Do I need to factor in opportunity costs for the $20,000 downpayment that I'm no longer investing elsewhere? How do you account for the $/month which goes towards the principle - does this decrease your ROI each month as you have more $ in the property? What is considered a good ROI for a property of this kind?